Largest residential portfolio deal in the Netherlands in the past 1.5 year
PATRIZIA Immobilien AG has recently acquired a large residential portfolio in the Netherlands through its local subsidiary in Amsterdam. The portfolio includes 1,275 residential units at 23 attractive locations mainly situated in the Randstad, one of Europe‘s largest and economically most thriving agglomerations. Amsterdam, Zwolle, Dordrecht and Den Bosch have a significant allocation in the portfolio. The purchase price is €152,5 mn. Sellers are different funds managed by Holland Immo Group. Holland Immo Group was advised by CBRE during the entire selling process.
There are also 4 commercial premises and over 500 parking spaces in addition to the 1,275 residential units in 27 buildings. The average unit size is about 82 square meters.
Transactions like these are quite special because of the limited offer of existing property portfolios in the Netherlands. This is the biggest residential portfolio transaction over the past 1.5 year. The demand from Dutch and international investors for large property portfolios remains strong.
As of today, PATRIZIA Netherlands has around €1.1 bn of assets under management.
Patrizia Netherlands was supported by Savills and Loyens & Loeff.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers from more than 450 offices (excluding affiliates) worldwide. CBRE offers strategic advice and guidance in property sales and leasing; corporate services; property, facilities and project management; appraisal and valuation; development services; investment management; and research and consulting. Please visit our websites at www.cbre.nl and www.cbre.com.